Ben Zhou, the CEO of the Binance exchange, labeled Pi Network (PI) as a fraudulent project. He mentioned warnings from the Chinese police, casting doubts on the project’s legitimacy due to potential misuse of personal data, especially targeting the elderly. Zhou emphasized the need for Pi Network to address credibility concerns and urged transparency from the team. Pi Network aims to simplify mobile mining without draining battery life, unlike Bitcoin (BTC). Developed by Stanford graduates, Nicholas Kokalis and Chengdiao Fan, Pi Network officially launched its Mainnet on February 20 after years of development. Despite initial support from exchanges like Bittrex, OKX, and MXC, Pi Network’s value plummeted by 60% in one day and currently trades at $0.67. Check real-time digital currency prices on the price page.
